The Catalan real estate market showed a partial recovery during the third quarter of 2020, after the sharp declines suffered by the health crisis in the second quarter. Home sales increased significantly in this period, reaching 15,186 transactions, representing an increase of 17.06% compared to the previous quarter. However, the figures are still below pre-pandemic levels, with a year-on-year drop of -24.50%. This quarterly growth is explained by both the recovery in new housing (increase of 32.12%) and in used housing (increase of 14.22%).
In terms of prices, the average value of housing in Catalonia remained relatively stable, with a slight quarterly increase of 0.41% and a year-on-year increase of 2.54%. New housing experienced greater growth with a quarterly increase of 3.41% and a solid year-on-year increase of 7.60%, while used housing showed a more moderate performance, with a quarterly fall of -0.35% but a year-on-year increase of 1.37%.
Major cities also recorded a notable recovery. Barcelona saw a 7.99% increase in quarterly sales, while cities such as Girona, Lleida and Tarragona also showed significant increases, although their figures are still far from the historical highs.
Overall, the real estate market in Catalonia is showing signs of recovery after the strong impact of the health crisis, although economic challenges and restrictions will continue to influence its evolution in the coming quarters.
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